Business

Wholesale marijuana shortagesWholesale marijuana shortages on Martha’s Vineyard spark lawsuit

May 22, 2024 · MJ Biz Daily

Cannabis stores on Martha’s Vineyard and Nantucket filed a lawsuit against Massachusetts regulators to allow wholesale marijuana delivery to the islands for resale to consumers. According to the lawsuit filed against the Cannabis Control Commission (CCC) in Suffolk County Superior Court, Geoff Rose, owner of Island Time, and Nantucket-based Green Lady Dispensary are seeking an allowance for interisland cannabis transportation via boat, The Martha’s Vineyard Times reported. According to the newspaper, the lawsuit was prompted by wholesale marijuana shortages as Martha’s Vineyard’s only grower,… Read more.

The Marijuana Industry Paradox – Higher Sales But Lower Profits, Michigan is the Latest State Caught in the Weed Enigma

May 21, 2024 · Cannabis.net

Why Does Michigan’s Cannabis Market Have Increased Sales But Reduced Retail Profits? Michigan’s marijuana industry has experienced a paradox in recent years: While marijuana sales have risen, retail profits has not kept pace with the increase. This result highlights several important factors affecting the cannabis market, including market saturation, cost-effectiveness, impact management, and consumer behavior. This comprehensive analysis will provide insight into underlying causes, business outcomes, and potential strategies for retailers to navigate this challenging environment The Boom in Cannabis Sales Since Michigan legalized recreational… Read more.

MSO Stocks Soar After Biden Video Confirms Cannabis Is Moving to Schedule III

May 20, 2024 · High Times

Cannabis stocks spiked immediately after President Joe Biden announced the reclassification of cannabis from a Schedule I to a Schedule III drug, endorsing the Justice Department’s recommendation.  Biden posted a video on X at 1 p.m. May 16, declaring that the U.S. Department of Justice would indeed reclassify cannabis, and within hours, cannabis-related stocks began rising amid the growing excitement. “Today’s step is another historic step moving forward,” Poseidon Investment Management co-founder Emily Paxhia told Yahoo! Finance on an episode of Market Domination.… Read more.

Industry Reaction to President Biden’s Cannabis Rescheduling

May 17, 2024 · Cannabis Now

President Joe Biden confirmed May 16, 2024, that the Department of Justice (DOJ) and Drug Enforcement Administration’s (DEA) has definitive plans to reclassify marijuana from a Schedule I to Schedule III drug under the Controlled Substances Act (CSA). Cannabis has been classified as Schedule I since 1970. Matt Darin, CEO of Curaleaf, the New York-based retailer operating cannabis dispensaries in 19 states, calls yesterday’s news “another important milestone in this very important process as we get closer to rescheduling cannabis… Read more.

Want to Own High Times, Now You Can! – Like MedMen, Legendary Cannabis Brand High Times Goes Bankrupt

May 13, 2024 · Cannabis.net

For the second time in less than two weeks, an iconic cannabis brand has gone belly up. First the "Apple Store of Weed" Medmen delclared bankruptcy, and now legendary brand, High Times, has entered into bankruptcy proceedings.  The legendary brands has been in a downward spiral since minor-league VC Adam Levin took over the show in December 2016. The ultimate cannabis bro, Levin lead High Times directly into the ground with hubris, arrogance, and by treating other cannabis businesses as second class… Read more.

Tilt Holdings cannabis affiliate in Pennsylvania secures $10.5 million loan

May 11, 2024 · MJ Biz Daily

Pennsylvania’s Standard Farms, a subsidiary of Arizona-based cannabis multistate operator Tilt Holdings, secured a $10.5 million loan. The loan will fund Standard Farms’ plans to build and run medical marijuana dispensaries in Pennsylvania, according to a news release. An unidentified “experienced retailer and operator” issued the secured promissory note, the release noted. Standard Farms can borrow up to $10.5 million to build and operate up to three medical marijuana dispensaries. The promissory note matures on Dec. 31, 2027, and the loan… Read more.

$9 Billion in Revenue and $2 Billion in Losses – Why the Marijuana Industry May Never Be Profitable for Investors

May 10, 2024 · Cannabis.net

The "marijuana mullet" is back with avengence in the cannabis industry as great top-line, headline-shocking, numbers for revenue got released with the usual massive losses on the bottom line, as usual. Last year, an analysis of public filings by Green Market Report revealed that among the twenty largest publicly traded marijuana companies in the U.S., only one managed to turn a profit, while the rest collectively incurred a hefty $2.3 billion in losses. Despite generating over $8.7 billion in revenues altogether, these… Read more.

MedMen, The $1.7 Billion Apple Store of Weed, Goes Bankrupt Just as Marijuana Gets Rescheduled in America

May 2, 2024 · Cannabis.net

MedMen Enterprises Inc. has admitted defeat, citing financial woes and an inability to settle its debts, revealed Amit Pandey, the former chief financial officer of the cannabis company, late Friday. MedMen, once a celebrated pioneer in the cannabis industry and dubbed the 'Apple store of weed,' has been hit by a string of setbacks in recent years. These include financial woes, the shuttering of retail outlets, workforce reductions, legal battles, and internal disputes among top executives, all of which have led… Read more.

Cannabis Stocks Soar After Cannabis Rescheduling News

May 1, 2024 · Ganjapreneur

Cannabis company stocks surged on Tuesday following reports that the Drug Enforcement Administration (DEA) would move to reschedule cannabis from Schedule I to Schedule III under the Controlled Substances Act (CSA), Forbes reports. Canopy Growth Corporation shares surged more than 65% to close at $14.88. Tilray Brands shares jumped 35% to close at $2.47. Aurora Cannabis shares jumped 46% to close at $9.23. Amplify Alternative Harvest shares jumped 26% to close at $2.40. Trees Corporation shares also jumped 26%, closing at $0.11.… Read more.

17 Ladies Leading the Cannabis Industry in 2024

May 1, 2024 · MG Magazine

Despite a modern commercial landscape dominated by men in leadership roles, history reminds us women have always been integral to cannabis culture. Long before there was a legal industry, women employed the plant in medicinal remedies and cultivated hemp to support the nascent economy of a new nation. More recently, activists like Mary Jane “Brownie Mary” Rathbun, Debbie Goldsberry, and Valerie Corral risked their liberty to deliver relief to patients in need, and advocates including Madeline Martinez, Amanda Reiman, and… Read more.

Has Medical Marijuana Already Priced Itself Out of the Cannabis Market? – 60% of Utah MMJ Patients Use the Black Market for Meds

April 18, 2024 · Cannabis.net

According to Cache Valley Daily, around 60% of Utah's medicinal cannabis users obtain their cannabis from sources other than the state's authorized market. The study, done by Cannabis Public Policy Consulting (CPPC) on behalf of the Utah Department of Agriculture and Food (UDAF), sheds light on accessibility issues in the state's medicinal cannabis program. Dr. Brandon Forsyth, Director of Industrial Hemp and Medical Cannabis at UDAF, emphasized the need of conducting annual market analyses to evaluate the performance of Utah's Medical Cannabis… Read more.

Marijuana multistate operators continue to flee regulated state markets

April 10, 2024 · MJ Biz Daily

Publicly traded marijuana multistate operators exited regulated cannabis markets through late 2023, continuing a pattern fueled by increased capital costs, high taxes and the slow pace of federal reform. New York-based The Cannabist Co., for example, recently exited Missouri and Utah after what CEO David Hart called an “arduous year.” Meanwhile, Florida-based Trulieve Cannabis Corp. wound down its presence in Massachusetts. (This map pinpoints where the large MSOs are operating.) While some companies may have invested too heavily in expansion plans or tried… Read more.

The US Cannabis Industry is Booming If You Don’t Count the $3,800,000,000 Owed in Back Taxes and IOUs

April 8, 2024 · Cannabis.net

The cannabis industry is great at not paying their bills. If you remember the video that went viral for the dispensary owner saying the key to making money is not paying your vendors, and just let them go out of business. In Canada, the Canadian government is cancelling 123 cannabis licenses over upaid taxes, and what they view as "uncollectible" debt. In California, the state has created a "cannabis company deadbeat" list of entities that owe licensing and tax money to the state… Read more.

Brace for Impact: 420 Likely to Set New Retail Records

April 7, 2024 · MG Magazine

In the cannabis industry, no day is more anticipated than April 20, or “4/20” in the vernacular. Often referred to as the industry’s “high holy day” or unofficial holiday, companies and individuals mark the day with product launches, promotional offers, and community events. Legal businesses seize opportunities to drive sales and create goodwill, making the period leading up to the “holiday” an ideal indicator of sales trends and challenges. What will customers seek this year? How can you stock those products in… Read more.

Wholesale Flower Tops $2K per Pound in 3 States

April 4, 2024 · MG Magazine

The average price for a pound of cannabis flower fell 8.1 percent nationally in 2023 to around $995, but cultivators in Alaska, Ohio, and Missouri still enjoy the hefty wholesale prices from a largely bygone era. According to a new report from Leaflink, Alaska leads the country with an average wholesale flower price of $2,374.74 per pound, followed by Ohio at $2,282.70 and Missouri at $2,065.88. It’s worth noting the report presents Ohio’s pricing data in grams to align with how… Read more.

Top Marijuana Advocacy Groups End Merger Talks Despite Fundraising Challenges

April 2, 2024 · Marijuana Moment

Two of the nation’s leading marijuana advocacy groups—NORML and the Marijuana Policy Project (MPP)—have ended talks about a potential merger that was being considered as way to consolidate resources amid a challenging fundraising environment for cannabis reform organizations. After months of negotiations about possibly joining forces, the boards of the organizations have suspended those discussions, MPP Executive Director Matthew Schweich told Marijuana Moment. NORML’s board also confirmed the news. CelebStoner first reported earlier on Monday that NORML’s board of directors voted to… Read more.

Win Free Weed for a Year – Find The Willy Wonka Golden Cannabis Tickets or Create a Great Cannabis-Themed Video!

March 31, 2024 · Cannabis.net

It was only a matter of time before something like this happened. West Coast Cure (WCC) has come up with a cool contest inspired by the famous Willie Wonka event but with a twist. Instead of chocolate, they're offering weed! Up to five lucky winners could get a year's supply of top-quality cannabis for just $4.20. That's a steal for any weed lover out there. Jonathan Jones, who's in charge of marketing at WCC, is super excited about this. He… Read more.

West Coast cannabis companies target price-sensitive customers

March 31, 2024 · Green Market Report

A trio of West Coast marijuana companies hosted separate investor calls on Thursday, but they all highlighted their focus on the same basic business fundamental moving forward: helping cannabis consumers find value-priced products in the regulated market. The three businesses – Glass House Brands (OTC: GLASF), Lowell Farms (CSE: LOWL) (OTCQX: LOWLF), and Leafly Holdings Inc. (NASDAQ: LFLY) – also had another trait in common: They all lost millions in 2023 and are searching for a path to profitability. During its earnings call, Glass House CEO… Read more.

Want to shatter cannabis’ grass ceiling? Here’s how these women did it

March 29, 2024 · MJ Biz Daily

To celebrate Women’s History Month, MJBizDaily invited influential women from across the cannabis industry to join a livestream event. Guests included: Laura Fogelman, vice president of communications and public affairs at Pax. Tara Joseph, co-founder and chief financial officer at Big Plan Holdings. Chanda Macias, CEO of National Holistic Healing Center; CEO and chair of Women Grow. Caroline Phillips, founder and executive producer of the National Cannabis Festival; deputy director of Supernova Women. Susie Plascencia, founder of Latinas in Cannabis; co-founder and chief… Read more.

Cookies cuts ties with its lone San Francisco marijuana store

March 28, 2024 · MJ Biz Daily

Cookies, the most recognizable brand in cannabis, traces its origins to San Francisco and the pre-legalization marijuana underground in the city that’s considered by many to be the birthplace of the legal industry in America. But as of earlier this year, there is no longer a Cookies-branded marijuana store in San Francisco. The brand terminated the licensing agreement it had with Berner’s on Haight, an adult-use store that’s borne the name of the Cookies co-founder since 2020, company President Parker… Read more.

The UK’s Cannabis Market is Worth Over $3.3 Billion a Year, Will Cancer Headlines Push Legalization Forward in England?

March 24, 2024 · Cannabis.net

As NPR reported, Catherine, Princess of Wales, has cancer, she announced in a video message released by Kensington Palace on Friday, and is in the early stages of chemotherapy. In the video, the former Kate Middleton, 42, said the diagnosis was a "huge shock after an incredibly tough couple of months." The cancer was found during testing done after she successfully underwent major abdominal surgery in January, Kate said. She did not specify the type of cancer or its stage.… Read more.

German Cannabis Legalization Fuels Surge in Weed Stocks

March 23, 2024 · MG Magazine

Cannabis stocks soared Friday on the news Germany’s parliament legalized cannabis for personal possession and use. Canopy Growth Corporation’s stock (NASDAQ: CGC) surged a remarkable 39 percent, capping a weekly gain of more than 106 percent. Others on the NASDAQ, including Aurora Cannabis Inc. (ACB, up 26.6 percent), SNDL Inc. (SNDL, up 21.5 percent), Tilray Brands Inc. (TLRY, up 18.5 percent), and Cronos Group Inc. (CRON, up 9.2 percent), also witnessed substantial increases in share prices. Under the new law,… Read more.

Charlotte’s Web aims for brighter days with strategic shifts

March 22, 2024 · Green Market Report

The CBD maker also extended its partnership with Major League Baseball. Charlotte’s Web (OTC: CWBHF) has been caught in a protracted sales downturn, but management is optimistic that it can still turn the tides for the once stand out CBD maker. The MLB-partnered company reported a 14.8% slide in net revenue in 2023, down to $63.2 million from 2022. Lower sales in both e-commerce and business-to-business (B2B) sectors drove the decline. While the company has been taking “multiple actions to maintain… Read more.

Michigan company’s marijuana license revoked over illicit extracts

March 21, 2024 · MJ Biz Daily

A Michigan marijuana company is surrendering its processor licenses because it was combining legal and unregulated cannabis in extracts sold in the adult-use and medical markets. Lansing-based TAS Asset Holdings, also known as Noble Road Co., received a consent order and stipulation from CRA, the Lansing State Journal reporting, citing an announcement from Michigan’s Cannabis Regulatory Agency (CRA). TAS Asset Holdings hasn’t operated since February 2023 after the CRA issued formal complaints and suspended the company’s licenses. “TAS has been closed since February 2023… Read more.

MedMen Closes All But Two of Its California Locations

March 11, 2024 · Ganjapreneur

MedMen, the multistate cannabis operator (MSO) that once held the largest cannabis franchise footprint in the U.S., has shut down all but two of its California-based cannabis shops, MJBizDaily reports. The closures follow a years-long downward trend for the Los Angeles-based company, once considered a multi-billion dollar brand. MedMen’s last remaining California dispensaries are located in San Diego and near the Los Angeles International Airport. The company has also seen its stock price plummet more than 90% in three years and laid off more… Read more.

A Roadmap for Interstate Commerce

March 7, 2024 · MG Magazine

Leading up to the 2020 election, optimism about the prospects for significant federal reform was rising in the cannabis industry. After all, politicians on both sides of the aisle were more open than ever to meeting with lobbyists about banking reform, releasing the unjustly incarcerated, federal taxation, and all the other potential benefits and ramifications of federal legalization. Unfortunately, the tides mostly have swung in the opposite direction since then. The former buzz about legalization has become more like a faint murmur. Arguably, interstate… Read more.

Buy Weed from Women, But Do Your Due Diligence Too So You Don’t Get Scammed – SHE Beverages Was a Complete Fraud

February 26, 2024 · Cannabis.net

After a couple of years, the Securities and Exchange Commission has wrapped up its case against the SHE Beverage company. In 2021, they slapped charges on the bigwigs Sonja F. Shelby, Lupe L. Rose, and Katherine E. Dirden, accusing them of duping investors during the 2017-2019 period. Now, the final judgments are in. SHE Beverages As ace cannabis reporter, Deb Borchardt of Green Market Report first posted, SHE Beverages was a scam from the very beginning of their public fund raising efforts.… Read more.

Oregon Cannabis Businesses Call for Permanent License Caps

January 27, 2024 · Ganjapreneur

The Cannabis Industry Alliance of Oregon (CIAO) is calling for lawmakers to make permanent a restriction on the licensing of new cannabis companies that is set to expire in April, according to a KLCC report. Before the statewide licensing moratorium was enacted in 2018, officials had issued over 3,000 licenses for the production, manufacturing, and retail of adult-use cannabis products, the report said. “There are so many businesses competing for the same amount of market share that it’s just not feasible,” said Mike Getlin,… Read more.

Green Rush Leaves ‘Ghost Town’ of Grow Facilities in Ordway, Colorado

January 23, 2024 · High Times

Is a town in Colorado the first to become a cannabis ghost town? Westword’s Thomas Mitchell reported that the green rush of cannabis business licenses in Colorado left the town of Ordway a “ghost town,” filled with vacant growing operations. Hasn’t this happened before? Out of the hope of profitable veins of gold sprung boomtowns during the California Gold Rush, a mid-19th century rush of people seeking a fortune from gold. Bodie, California, for instance, soared to over 8,000 people looking for gold… Read more.

Colorado Cannabis Sales Hit a New Low Not Seen Since February of 2017 – The Cannibalization of the Cannabis Consumer

January 22, 2024 · Cannabis.net

Colorado's medicinal marijuana industry continued to deteriorate in November 2023, with sales amounting to just $14.5 million, an 11.5% fall from the same month the previous year. This November was the state's cannabis industry's fourth straight month of declining sales, indicating a concerning trend. Colorado will likely witness significant declines in marijuana sales for the second year in a row. The "beggar they neighbor" policy of out-of-state consumers crossing over state lines to get their medical or recreational marijuana seems to be dying.… Read more.

HR Trends and Talent Insights for the Year Ahead

January 16, 2024 · MG Magazine

The human resources trends set to dominate 2024 are certain to disrupt the industry, mostly for the better. This year will be prosperous as multistate brands continue to expand into other states, but there will be challenges. One major inflection point will relate to rescheduling, with cannabis likely to shift from Schedule I to Schedule III. On the competition front, the biggest curveball will be the hemp-derived THC market, which offers a massive loophole for selling products outside dispensaries and without interstate… Read more.

Illinois Marijuana Retailers Sold $2 Billion Worth Of Legal Products In 2023, Including A New Monthly Record In December

January 11, 2024 · Marijuana Moment

Illinois marijuana retailers set new monthly sales records to close out 2023, selling $181.8 million worth of cannabis products during December, including a record $153.9 million in adult-use purchases. Sales of medical marijuana in December were at their highest since April, at $27.9 million. All told, legal cannabis sales for 2023 set a new annual record, reaching just under $2 billion, including more than $1.6 billion from the state’s adult-use market, which launched four years ago. Recreational marijuana sales generated… Read more.

Colorado enacts new laws and regulations for marijuana industry

January 8, 2024 · MJ Biz Daily

A slew of new cannabis laws and regulations went into effect Monday in Colorado, addressing issues such as online retail sales, intoxicating hemp products, lab testing and hospitality. Among the new laws and rules highlighted by the Colorado Marijuana Enforcement Division (MED) in an announcement last week: HB 23-1279: Lifts restrictions of online cannabis product orders and payments at retail stores. SB 23-271: Authorizes regulators to develop rules and potential restrictions regarding chemical modifications, conversions or synthetic derivatives of cannabinoids. The law… Read more.

After Adult Use Market Launch, Maryland Cannabis Sales Near $700M in 2023

January 8, 2024 · Ganjapreneur

After launching its adult-use market last year, Maryland cannabis retailers and dispensaries together have sold nearly $700M in products, according to a report from CBS Baltimore. According to the report, medical cannabis, which was already a thriving sector, saw an increase of over $200 million in just about five months. On the other hand, adult use sales rose to $270 million since stores opened. In a statement to CBS, President of SunMed Growers Jake Van Wingerden highlighted the dramatic impact that adult… Read more.

Almost Half Of Missouri’s Marijuana Social Equity Business License Applicants Live Outside The State

January 8, 2024 · Marijuana Moment

More than 40 percent of the owners listed on applications for state’s social-equity marijuana licenses issued in October were from outside Missouri, according to an annual report released by the Division of Cannabis Regulation Wednesday. About half of those owners came from California, Michigan, Louisiana and Arizona, collectively. The microbusiness license program is meant to boost opportunities in the industry for businesses in disadvantaged communities, and it was part of the constitutional amendment to legalize recreational marijuana that voters passed in November 2022. A total… Read more.

Almost Half Of Missouri’s Marijuana Social Equity Business License Applicants Live Outside The State

January 7, 2024 · Marijuana Moment

More than 40 percent of the owners listed on applications for state’s social-equity marijuana licenses issued in October were from outside Missouri, according to an annual report released by the Division of Cannabis Regulation Wednesday. About half of those owners came from California, Michigan, Louisiana and Arizona, collectively. The microbusiness license program is meant to boost opportunities in the industry for businesses in disadvantaged communities, and it was part of the constitutional amendment to legalize recreational marijuana that voters passed in November 2022. A total… Read more.

Cannabis operators say they have little to show for track-and-trace investments

January 3, 2024 · MJ Biz Daily

With 23 state contracts to provide cannabis track-and-trace software and radio frequency identification (RFID) tags under its belt, Lakeland, Florida-based Metrc has risen to dominate the space. But more than a decade ago, the company was just an idea, according to Metrc CEO Michael Johnson. “The original use for RFID in cannabis – and the whole reason Metrc came about – was a specific request from the state of Colorado,” Johnson said in an interview with MJBizMagazine. The company started as… Read more.

Hemp-Based Battery Maker Aims to Hire Laid Off Energizer Employees

December 29, 2023 · High Times

A hemp-based battery manufacturing company is coming to a town in Wisconsin with a goal to hire former employees of Energizer. Portage, Wisconsin-based Wisconsin Battery Co. (WinBat) makes batteries out of hemp instead of graphene, for use in devices like hearing aids. Earlier this month, WinBat announced that it has acquired 17 acres of land in the Portage Industrial Park to develop its battery plant. According to a Dec. 21 press release, development will focus on: Industrial batteries: Creating energy storage… Read more.

Arizona Awards ‘Justice Reinvestment’ Grants To 18 Community Nonprofits, Paid For With Marijuana Revenue

December 27, 2023 · marijuanamoment.net

Arizona has awarded the first round of Justice Reinvestment Grants to 18 community nonprofits, state officials announced last week. The program, created by the state’s 2020 marijuana law, is funded by revenue from taxes on legal cannabis sales. The grants program supports a variety goals of including public and behavioral health, such as substance use prevention and treatment; workforce development and mentorship programs in economically disadvantaged areas; “addressing the underlying causes of crime” and reducing the state prison population; and developing… Read more.

California AG Rules Out Interstate Cannabis Commerce

December 21, 2023 · Ganjapreneur

California Attorney General Rob Bonta said on Tuesday that opening up interstate cannabis commerce for the state’s cannabis industry would carry too much risk of federal enforcement. Gov. Gavin Newsome (D) last year signed into law a proposal giving licensed cannabis companies the right to export their products into other state-legal markets. However, the law would only apply if there was some assurance that there would be no legal interference from the federal government, which still prohibits cannabis as a… Read more.

How Many People Does It Take to Deliver an Order of Cannabis? A.4 B.2 C.1?

December 19, 2023 · Cannabis.net

In a decisive 3-1 vote, Massachusetts regulators have given the green light to cannabis transport businesses to streamline their delivery operations by reducing the mandatory two-person team to a single cannbais delivery driver. This potential cost-cutting measure is poised to benefit operators in the industry. The Massachusetts Cannabis Control Commission (CCC) reached a consensus on Thursday to revise the state's marijuana delivery regulations, relaxing the existing requirement for a two-person delivery team. It's important to note that this rule adjustment is pending… Read more.

Another major marijuana brand exits Colorado market

December 19, 2023 · MJ Biz Daily

Coda Signature, an early entrant in Colorado’s regulated marijuana market, is the latest brand to cut business operations in the state. The homegrown, award-winning cannabis edibles maker will concentrate efforts in other markets after facing escalating challenges in Colorado since the COVID-19 pandemic, according to Denver alt-weekly Westword. “Colorado’s cannabis market declines in recent years combined with the significant oversupply has caused the company to make the difficult decision to close operations in Colorado,” Coda Signature told Westword in a… Read more.

What are the Best States for Starting a Cannabis Business in 2024? – Marijuana Legal Experts Weigh In!

December 18, 2023 · Cannabis.net

Have you ever pondered the landscape of cannabis regulations across the United States? Amid a shifting legal terrain where nearly half of the states have embraced recreational cannabis and 38 have legalized medical marijuana, the complexities abound. Despite federal law maintaining cannabis as an illegal substance, each state charts its course with unique rules and regulations. Deciding on the optimal cannabis state involves considering various factors, such as whether the state permits medical, recreational, or both cannabis programs, the presence of… Read more.

Over 10 Cannabis Companies Closing Per Month in Massachusetts? – Low Wholesale Prices Wreak Havoc on Profitability

December 16, 2023 · Cannabis.net

While Schedule 3 banter has the marijuana industry in a "postiive spin mode", the facts of the industry present day are gruesome and harsh. Selling Cannabis Licenses for Pennies on the Dollar was a story Cannabis.net did on the bleak state of the Oregon cannabis industry after the Fall harvest was so large it is putting growers and culitvators out of business.  The race to the bottom on pricing and lack of access to credit or created cash-flow is killing many cannabis… Read more.

New York regulators issue first cannabis product recall

December 13, 2023 · MJ Biz Daily

New York issued what is believed to be its first cannabis product recall after the discovery that a single lot of gummies “did not undergo the required testing for consumer safety and product quality.” The product, “Jenny’s Zee Zee gummies, 2:1 THC/CBN,” were “sold through licensed cannabis dispensaries throughout New York State” between Sept. 4 and Nov. 1, the Office of Cannabis Management (OCM) said Tuesday in announcing the recall. The batch and lot number for the offending gummies is ZZ-23–07-13-0001, the… Read more.

Cannabis MSOs get OK to enter New York adult-use market Dec. 29

December 9, 2023 · MJ Biz Daily

Cannabis multistate operators with medical marijuana licenses in New York received the green light from state regulators Friday to enter the adult-use market on Dec. 29, exactly one year after the state launched recreational sales. The Cannabis Control Board’s approval had been anticipated for months, but the decision marks a controversial milestone in the rollout of the state’s recreational marijuana market. It follows the New York State Supreme Court’s Dec. 1 decision to lift an injunction that had prevented regulators from handing out… Read more.

Selling Cannabis Licenses for Pennies on the Dollar – Oregon’s Outdoor Harvest Was So Massive It Crushed Prices

December 8, 2023 · Cannabis.net

Once again, Oregon's cannabis producers have faced an oversupply issue, as revealed in a recent report. This perpetuates the ongoing challenge of excess marijuana within the state's regulated cannabis industry. Throughout much of the current year, analyses of Oregon's cannabis production indicated a downward trajectory compared to the previous year, resulting in a slight uptick in prices. However, a November 20 report by state economists Mark McMullen and Josh Lehner unveils that the fall harvest of outdoor cannabis this year surpassed… Read more.

Trade Group Offers Guidance To Marijuana Businesses On How To Find Banking Services Amid Federal Prohibition

December 6, 2023 · marijuanamoment.net

With the congressional effort to remove federal restrictions on marijuana banking still ongoing, a coalition of financial institutions has released new guidance for cannabis businesses trying to secure banking services. While compliance can be onerous compared to banking for most businesses, the report published on Monday by the Cannabis Industry Financial Group (CFIG) says it’s nevertheless possible for the marijuana industry to obtain above-board, reliable financial services without waiting for passage of the Secure and Fair Enforcement Regulation (SAFER) Banking Act.… Read more.

Crossing State Lines to Buy Much Cheaper Weed? You Bet, 90% of Virginia MMJ Patients Get Their Cannabis from Other Sources

December 5, 2023 · cannabis-net

It’s not uncommon for residents of states yet to enact cannabis laws to travel and obtain their weed through out-of-state dispensaries. However, one Southern state appears to be experiencing this issue when it comes to medical cannabis, even though it’s had legal, operational medical dispensaries since 2020. A new 78-page report released by the Virginia Cannabis Control Authority (CCA) takes a closer look at the state’s medical cannabis market, most notably finding that the state’s high prices are driving consumers to border… Read more.

Women of Influence: Dr. Sue Sisley

December 4, 2023 · cannabis-now

Arizona-based physician and president of the Scottsdale Research Institute, Dr. Sue Sisley, is globally known for having led the only Food and Drug Administration-approved randomized and controlled study examining safety and efficacy of smoked cannabis flower in combat veterans suffering from severe post-traumatic stress disorder (PTSD)—a huge accomplishment. Dr. Sisley continues to advocate for the lifting of federal restrictions on cannabis research through her work as principal investigator at Scottsdale Research Institute and Field To Healed Foundation and as a… Read more.

New Jersey Marijuana ‘Seed Equity’ Grants Program Launches Application Portal For $8 Million In Aid To Entrepreneurs

December 1, 2023 · marijuanamoment-net

New Jersey has opened applications for the second phase of a marijuana social equity funding program, which will make $150,000 grants to awardees and offer eight weeks of technical assistance. The New Jersey Economic Development Authority (NJEDA) says the round of so-called Seed Equity grants will allocate “up to $8 million in funding for 48 entrepreneurs” who meet social equity qualifications and hold conditional marijuana licenses. Applicants must also employ 50 or fewer employees. Money can be used to cover… Read more.

Weedmaps Data Finds ‘Green Wednesday’ Cannabis Sales Outpace Black Friday Sales

November 30, 2023 · ganjapreneur

Cannabis sales on the day before Thanksgiving surpassed sales on Black Friday, accounting for 21% of the weekly gross market value over the holiday week, according to order data from Weedmaps. The day before Thanksgiving has been dubbed “Green Wednesday” due to historically strong cannabis sales.  Weedmaps saw 42% growth in total order volume on Green Wednesday and the average basket value that day was 103% higher than the average Wednesday during the month of November; however, the day’s gross market value was… Read more.

Arizona, Maryland, California, Massachusetts – Why Big Cannabis MSOs Are Closing Up Shop ASAP in Major States!

November 28, 2023 · Cannabis.net

In the midst of years marked by rapid expansion and recent swift exits, some of the nation's leading cannabis multistate operators (MSOs) have continued to streamline their operations this year, as revealed in the latest update on the activities of several major MSOs in the country. Over the past five months, two of the largest MSOs in the country, Trulieve Cannabis based in Florida and Cresco Labs based in Chicago, have withdrawn from state-legal cannabis markets. This strategic move reflects their ongoing… Read more.

New York Marijuana Regulators Approve Settlement Agreements To End Months-Long Business Licensing Blockade

November 28, 2023 · marijuanamoment.net

New York marijuana regulators have approved settlement agreements that could soon allow hundreds of cannabis businesses that have been blocked from opening amid litigation to finally begin operations. At a meeting of the Cannabis Control Board (CCB) on Monday, members accepted the terms of settlement for two lawsuits, though they declined to disclose details. The agreements must still be formally accepted by the state Supreme Court before the injunction is lifted. One of the lawsuits that would be resolved under the settlement—Carmine… Read more.

Women of Influence: Rosie Mattio

November 27, 2023 · Cannabis Now

As founder of MATTIO Communications, the largest cannabis-focused marketing and public relations agency in North America, Rosie Mattio is considered a powerhouse PR person.  Since launching the firm as a one-woman operation in 2004, Mattio has redefined conversations around the emerging industry by garnering global media coverage in mainstream publications for clients, including the first cannabis article ever published in Oprah Magazine.   Mattio has worked in the cannabis space since launching her company nearly two decades ago and says time… Read more.

St. Louis Will Lose A Half-Million Dollars In Marijuana Tax Revenue After Failing To Submit Documents To Missouri Officials

November 26, 2023 · marijuanamoment.net

The city of St. Louis will lose approximately $500,000 in tax revenue after it failed to submit documents with the Missouri Department of Revenue to collect a voter-approved recreational marijuana tax. City voters approved a 3 percent tax on recreational marijuana in April. State law would have allowed the city to begin collecting the tax on October 1 if paperwork was filed by June 30. Bill 139 was passed unanimously by the St. Louis Board of Aldermen last December to ask… Read more.

Cannabis multistate operators exit more states in latter half of 2023

November 21, 2023 · MJ Biz Daily

After years of rapid expansion – and, more recently, swift exits – some of the nation’s largest cannabis multistate operators have continued to streamline operations this year, according to MJBizDaily’s latest update on the operations of several of the nation’s largest MSOs. Two of the country’s biggest MSOs, Florida-based Trulieve Cannabis and Chicago-based Cresco Labs, exited state legal cannabis markets in the past five months, reflecting ongoing efforts to strengthen balance sheets as the industry awaits widely anticipated federal reform and improved investor… Read more.

California Regulators Embargo Cannabis Products From 3 Companies

November 21, 2023 · Ganjapreneur

California cannabis regulators on November 9 issued an embargo on products from three companies, claiming the products may have been “adulterated,” SF Gate reports. The letter to the firms, outlined by SF Gate, says the products may contain “poisonous or deleterious” substances but the Department of Cannabis Control (DCC) declined to provide further information.  In an email to SF Gate, David Hafner, a spokesperson for the DCC said the agency “is currently investigating the facts and circumstances related to these products to… Read more.

Women of Influence: Vanessa Dora Lavorato

November 20, 2023 · Cannabis Now

You may recognize Vanessa Dora Lavorato from VICE TV’s James Beard Award-nominated cooking show Bong Appétit, which she co-hosted for all three seasons (2016-19). Lavorato discovered her love of cooking when she was studying at UC Berkeley and soon became passionate about fusing her two favorite ingredients: cannabis and chocolate. This deliciously dope combo eventually led her to create Marigold Sweets, a California-based edibles company whipping up luxurious, high-quality chocolate truffles.  Lavorato’s popular online show, The Edibles Club, sees the talented chocolatier… Read more.

True or False, Moving Cannabis to a Schedule 3 Drug Means Sending Weed Through the Mail, UPS, or Fed Ex Is Now Legal?

November 18, 2023 · Cannabis.net

Certain cannabis industry leaders are optimistic that the federal government's reclassification of marijuana from Schedule 1 to Schedule 3 of the Controlled Substances Act will clear the way for the interstate movement of cannabis goods. Legal experts in the marijuana industry, however, contend that this optimism is only partially justified. Schedule 3 and Schedules 4 and 5 currently allow interstate commerce exclusively for drugs sanctioned by the U.S. Food and Drug Administration (FDA). Examples include anabolic steroids, ketamine, testosterone, Tylenol with codeine, as… Read more.

The Google Maps Effect Hits the Cannabis Industry – Weedmaps and Leafly Becoming Obsolete for Cannabis Consumers?

November 18, 2023 · Cannabis.net

They say when Google enters your industry it is time to sell and move on, but has that time finally come for internet website giants like Weedmaps and Leafly?  With Google Maps now listing dispensaries and reviews, and lowering both Weedmaps and Leafly's organic search traffic, the end may be near for these historic giants in the cannabis industry. The landscape of online cannabis advertising witnessed notable challenges in the third quarter of 2023 as industry leaders Weedmaps and Leafly grappled with financial… Read more.

California cannabis brand Dosist acquired by partner Final Bell

November 16, 2023 · MJ Biz Daily

California cannabis brand Dosist has been acquired by longtime Los Angeles partner Final Bell Holdings International. Under the agreement, Final Bell acquired the intellectual property of the brand and assumed its debt, company executives told MJBizDaily in advance of an official announcement. No cash was exchanged in the deal. “With Final Bell’s acquisition, Dosist will grow and become more accessible for those wanting a companion to a healthy and active way of life,” said Dosist founder Jason DeLand, who will oversee the integration. Santa… Read more.

Cannabis Executive Salaries Are Soaring into 2024

November 16, 2023 · MG Magazine

Chief executive officers at the largest cannabis companies by revenue have moved past the $400,000 base salary threshold with annual salaries topping $416,000—almost ten times what mid-level managers in the industry make, according to a new report from executive search and staffing agency ForceBrands. According to the firm’s 2024 salary and benefits report for consumer cannabis brands, recruiters are seeing increased interest in securing “hyper-relevant candidates” from outside the industry who can honor core cannabis culture while applying best practices honed in more traditional and mature… Read more.

One-third of Canada’s cannabis greenhouse capacity taken offline

November 9, 2023 · MJ Biz Daily

One after another, many of Canada’s largest cannabis greenhouses and indoor grow operations have been sold or mothballed as the industry continues to search for a supply-demand equilibrium after years of overproduction. The facilities, each costing anywhere from 100 million Canadian dollars ($73 million) to more than CA$500 million, are being closed for various reasons. Some of the operations crashed into the cannabis industry’s hard macroeconomic realities: Canadian cultivators bankrolled and licensed too much cultivation capacity before and after adult-use legalization in 2018,… Read more.

Village Farms Leans on Brand Diversification to Navigate Cannabis Glut

November 9, 2023 · Green Market Report

Village Farms International (Nasdaq: VFF), an agriculture veteran turned cannabis grower, is weathering a competitive cannabis market by betting on brand variety and operational efficiency, executives said during the company’s third-quarter earnings call. The British Columbia-based company, traditionally known for its produce, has shifted much of its growth narrative toward expanding Canadian cannabis segment. The introduction of the Fraser Valley brand to Ontario has driven positive results, grabbing decent market share by targeting cost-conscious consumers during a period of industry-wide price compressions. CEO Michael DeGiglio cited the… Read more.

Supply and Demand Curves Starting to Become Efficient in California as Thousands of Cannabis Growers Call It Quits

November 8, 2023 · Cannabis.net

The struggles that California's cannabis companies have been grappling with have been no secret. Still, it wasn't until this year that a noticeable decline in the legal marijuana market started to unfold. According to permit statistics from the California Department of Cannabis Control, the market has shrunk by approximately 29%. As of October 24, the state had only 9,900 active business licenses, marking a 28.5% decrease since July 2022, when there were 12,719 active provisional and annual cannabis business licenses,… Read more.

Big investors keener on cannabis MSOs as rescheduling looms, survey shows

November 8, 2023 · MJ Biz Daily

Institutional investors are increasingly bullish on U.S. cannabis multistate operators, according to a new survey, which suggests marijuana rescheduling by the federal government could convince those big investors to put new money into MSOs. The group’s sentiment is “more bullish than it was six months ago, mostly because of (the prospect of) rescheduling,” said Frederico Gomes, a cannabis equity analyst with Calgary, Alberta-based ATB Capital Markets and lead author of the report, which surveyed 23 institutional investors between Oct. 23 and… Read more.

Women of Influence: Loriel Alegrete

November 8, 2023 · Cannabis Now

40 Tons, a social impact cannabis brand striving to change lives by helping those with past cannabis convictions find careers in the industry, is led by CEO Loriel Alegrete. While that’s the primary goal, she says the company collaborates with other brands, retails premium products and provides education and opportunities for those who need it most. The company sees the objective as a win-win since it also brings value to businesses in need of candidates.  Alegrete co-founded the businesses and… Read more.

Colorado Market Rebounding Somewhat, but Contraction Isn’t Over

November 6, 2023 · Green Market Report

A longtime Colorado cannabis distributor and deal broker who works with dozens of farms and brands said he expects the cultivation sector in the state to continue shrinking more than it already has this year, but the wholesale market has already seen a bit of a rebound due to the contraction. “A few years ago, we had 1.4 million plants in the ground. Last I looked, it was around 900,000,” said Aaron Shaw, a longtime Colorado marijuana industry insider who runs a… Read more.

Missouri regulators lift recall on nearly 15,000 marijuana products

November 2, 2023 · MJ Biz Daily

Missouri regulators have notified cannabis operators that thousands of marijuana products under recall since August have been released for sale. The roller-coaster situation was first detailed by MJBizDaily. The Department of Health and Senior Services’ Division of Cannabis Regulation (DCR) have released nearly 15,000 products that were under recall, according to an Oct. 20 notice. That’s about a quarter of the 62,000 cannabis products that have been under recall. The infused products contained distillate manufactured and sold by Missouri-based Delta Extraction and its affiliates. The… Read more.

Most Michigan Cannabis Owners Have No Intention to Sell Their Businesses

October 30, 2023 · Green Market Report

Despite the challenges in the Michigan market, cannabis operators are preparing to expand. The 2023 Michigan Cannabis CFO Outlook found that a quarter of cannabis companies in the state were actively seeking capital for expansion at this time, while nearly half said they plan to look for capital within the next 12 months. The data, analyzed by A&K Research for use by Rehman Business Consulting, represented cannabis companies with revenue ranging from $5 million to more than $100 million. Nearly half – 47%… Read more.

Capital Markets Are Down but Not Quite Dead

October 26, 2023 · MG Magazine

A potent concoction of slowing capital markets and inactivity in Washington D.C. bears the majority of blame for the industry’s lackluster fundraising performance in 2023, but poor growth and contracting margins are what’s really been keeping investors away. According to the cannabis deal tracker provided by Viridian Capital Advisors, worldwide cannabis capital raises are expected to hit a multi-year low by the end of December. The $1.72 billion closed through the first 41 weeks of the year is 50 percent short of… Read more.

Ranks of women, minority cannabis execs rebound to pre-pandemic levels

October 25, 2023 · MJ Biz Daily

The percentage of women and members of minority groups holding executive positions in the cannabis industry has returned to pre-pandemic levels after a significant drop during the past three years, according to a new report from MJBizDaily. In 2019, MJBizDaily estimated that more than 36% of marijuana executives were women and 28% were from minority communities. Whether by choice or not, people from both groups exited cannabis leadership positions in 2020 after the COVID-19 pandemic upended the world economy. By 2021, women were estimated… Read more.

Midwest Women in Cannabis to Shine at Upcoming Summit

October 25, 2023 · Green Market Report

In the heart of the Windy City, an event of innovation and empowerment is about to unfold. The Midwest Women in Cannabis Summit, hosted by the Green Market Report, promises to be a transformative gathering for women seeking to make their mark in the booming cannabis industry. The conference is set to take place on Nov. 2 at Chicago’s Epiphany Center for the Arts, a historic former church, as like-minded women who share a passion for the world of cannabis come together. From… Read more.

Oregon Cannabis Industry Groups Merge Amid Market Downturn

October 25, 2023 · High Times

Two cannabis industry groups in Oregon have decided to join forces in a merger that comes amid a downturn in the state’s market for legal marijuana. The two groups, the Oregon Cannabis Association and the Cannabis Industry Alliance of Oregon, announced the merger last week following unanimous votes by the boards of directors of each organization. The newly merged group is named the Cannabis Industry Alliance of Oregon and represents more than 500 member businesses in the state’s licensed cannabis… Read more.

Multistate operator’s cannabis delivery partnership convinces executives to expand

October 25, 2023 · MJ Biz Daily

When Massachusetts-based multistate operator MariMed decided to launch a delivery service in its home state two years ago, company executives started studying other cannabis carrier services to become experts on the subject. They considered launching a distribution service from scratch and also looked at acquiring a delivery company in Massachusetts before deciding to invest in Little Dog Delivery. The state had granted a social equity delivery license to Sebastian Pollack, a senior production manufacturing administrator at MariMed, and the two… Read more.

Missouri marijuana operators face fresh turmoil amid recall confusion

October 23, 2023 · MJ Biz Daily

Missouri marijuana executives are hoping to return to some sense of normalcy after the state’s $1 billion-plus cannabis market underwent whiplash last week over the status of 62,000 infused products recalled from store shelves back in August. The back-and-forth began early last week when cannabis operators thought they had turned a corner in a saga that has cost them millions of dollars in lost sales and inventory. The initial sense of relief came as state regulators began clearing for sale… Read more.

Rhode Island Cannabis Commission Chair Downplays Errors In State’s Monthly Marijuana Sales Data

October 23, 2023 · marijuanamoment.net

Rhode Island’s top marijuana regulator was quizzed about a range of cannabis-related topics during a local TV news interview last week, including preparations to issue new retail licenses, the availability of hemp-derived cannabinoids and an error in state-reported sales data that was identified by Marijuana Moment. Cannabis Control Commission Chair Kimberly Ahern appeared on WPRI-TV’s “Newsmakers” on Friday, emphasizing that regulators are working to take a measured approach to stewarding the state’s adult-use market, which opened for sales through existing medical… Read more.

Utah Startup Applies to Sell Cannabis DUI Insurance in Oregon

October 18, 2023 · Ganjapreneur

Utah-based startup reepher has applied to sell insurance in Oregon which would cover the cost of defending a cannabis DUI, Axios reports. The cheapest reepher product offered costs $15 monthly and offers $15,000 in potential coverage, including up to $8,000 in attorney fees and $1,500 to recover a towed vehicle.   The company launched in late 2021 and currently operates in Arkansas, Georgia, Missouri, New Hampshire, and South Carolina, according to the reepher website.  CEO Justin Kahn told Axios that, to date, the company has… Read more.

Guess Which Liberal, Free-Wheeling State Is the First to Allow Pharmacies to Sell Cannabis Oil? – Georgia!

October 17, 2023 · Cannabis.net

Do you remember Dale Jackson, the Georgia father who invited police to follow him as he crossed state lines and got cannabis oil for his autistic son, Colin?  All his hard work has paid off as Georgia familes with sick kids will now get a chance at the same cannabis oil that has helped his son so much. The Georgia Board of Pharmacy has initiated the process of receiving applications from licensed, independent pharmacies seeking approval to distribute authorized medical marijuana products.… Read more.

What the end of 280E might mean for cannabis business taxes

October 17, 2023 · MJ Biz Daily

As the U.S. Drug Enforcement Administration weighs whether to revise marijuana to a Schedule 3 controlled substance, regulated cannabis producers are looking forward to the prospect of easing their heavy tax burdens under Section 280E of the federal tax code. Moving marijuana to Schedule 3 from Schedule 1 would end 280E’s effect on the cannabis industry, allowing state-regulated companies to “deduct, for federal income tax purposes, all their ordinary and necessary business expenses, the same as any other company would do,” said… Read more.

Cannabis is Big Business for Michigan Law Firms

October 16, 2023 · Green Market Report

Myles Baker is only six years out of law school. In a couple of months, it’s likely the associate attorney for Detroit firm Dickinson Wright PLLC will make partner — an often-elusive reward for a young lawyer. Baker is only 31 years old. He has marijuana to thank. Most associates aren’t even eligible for partnership, which means higher compensation and revenue sharing in law firms until they are eight to 10 years into their careers. But the legalization of cannabis… Read more.

Rhode Island Sees Record Adult-Use Marijuana Sales As Medical Purchases Fall To Lowest Since Recreational Market Launched

October 14, 2023 · marijuanamoment.net

Rhode Island’s licensed marijuana retailers sold more adult-use cannabis than ever in September, according to newly released state numbers. Overall sales, however, fell just a hair short of a $9.67 million monthly record in August due to a drop in medical cannabis purchases. September sales of recreational cannabis products totaled $7,116,727.00, according to the latest numbers from the Rhode Island Department of Business Regulation. That’s the greatest amount since legal sales to adults launched in December 2022. Medical marijuana receipts… Read more.

Trulieve Challenges $143 Million in Taxes

October 14, 2023 · Green Market Report

U.S. giant Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) is seeking a $143 million tax refund from the government for payments made in 2019, 2020, and 2021. The company argues that based on specific legal interpretations related to section 280E, it shouldn’t have been required to pay certain taxes. “Trulieve has filed amended federal returns for three prior tax years claiming a $143 million refund for taxes already paid that the company believes it does not owe,” a company spokesperson told Green Market Report in an… Read more.

$5,700,000,000 in Just 18 Months – States Hit the Jackpot Collecting Marijuana Tax Revenue

October 13, 2023 · Cannabis.net

The U.S. Census Bureau recently unveiled its inaugural report on state-level marijuana tax revenue data, marking a significant milestone in its approach to the cannabis industry. This report follows a comprehensive survey of all state agencies from July 2021. The data, spanning 18 months until the close of 2022, reveals that states generated over $5.7 billion from licensed cannabis sales. This report launch signifies a notable shift within specific federal government segments, recognizing the cannabis industry as a legitimate economic sector. The Census Bureau's… Read more.

Cannabis Companies Could Be Sitting on Billions of Dollars in Tax Refund Credits from the IRS if 280E Gets Eliminated

October 11, 2023 · Cannabis.net

Did the cannabis company thread the needle on paying federal taxes to the US government?  As Cannabis.net wrote up in their summary of the Benzinga Cannabis Conference in Miami, many cannnabis companies weren't paying their federal taxes, hence propping up their reported profits.  Why weren't they paying their taxes?  Two fold, one being they didn't have the money, and two, they were hoping that with federa legalization and the removal of the 280E code, they could go to court and argue they should have… Read more.

Michigan Governor To Review Cannabis Regulatory Agency, Tribal Business Bills

October 10, 2023 · High Times

Two cannabis bills were recently sent to the desk of Gov. Gretchen Whitmer, and if passed, would work in tandem to allow the Cannabis Regulatory Agency (CRA) to do business with local Native American cannabis businesses, and vice versa. Currently, state licensed cannabis and tribal cannabis businesses must operate separately from one another and cannot trade or do business with one another. Senate Bill 179 and Senate Bill 180 would permit these two distinct parts of the industry to interact.… Read more.

Sacramento City Council Meeting ‘Delves Into Chaos’ After Closing 11-Acre Pot Farm

October 10, 2023 · High Times

A large cannabis operation with 22 buildings spanning over 11 acres must temporarily cease operations as hundreds of employees are fighting for their jobs, culminating in a chaotic Sacramento City Council meeting. Law enforcement officials ordered Natura to close on Oct. 2, a farm located on Elder Creek Road near Power Inn Road, citing fire code violations that make the Morrison Creek district buildings unsafe for its 450 employees. Nautra now must work with the city to bring its 22… Read more.

Women of Influence: Emily Paxhia

October 9, 2023 · Cannabis Now

Poseidon Investment Management is a leading cannabis venture capital firm co-founded by managing partner Emily Paxhia with her brother, Morgan. Paxhia has spent nearly a decade reviewing thousands of cannabis companies and is active in the investment decision-making and oversight processes. She collaborates with her partners to create deal structures, ensuring that proper governance is carried out at the company level.  “I work with my colleagues to draw more women into leadership in cannabis,” she says. “More than half of… Read more.

Marijuana Companies And Investors Make Grab For Arizona’s Social Equity Licenses Ahead Of Retail Launch Deadline

October 9, 2023 · marijuanamoment.net

As Arizona’s remaining social equity license holders scramble to open marijuana dispensaries before a looming October deadline, private investors and major cannabis corporations have continued to wrest control away from the individuals the program was designed to benefit. In at least four recent cases, AZCIR found, licensees wound up on the losing end of legal battles, ultimately cutting short their prospects of long-term profits in a budding industry. One social equity license holder signed an operating agreement that would put his business… Read more.

Missouri marijuana product recall hearing moved to December

October 7, 2023 · MJ Biz Daily

An administrative hearing to weigh the merits of a massive marijuana product recall in Missouri has been pushed to December. Missouri’s Administrative Hearing Commission was set to hear arguments from cannabis regulators and Delta Extraction, but a joint motion between the manufacturer and state attorneys extended the hearing to Dec. 1 at the earliest, the Missouri Independent reported. Missouri regulators suspended Delta Extraction’s marijuana business license on Aug. 2 and accused the company of sourcing materials from an unlicensed facility. Then, on Aug. 14, the… Read more.